Trading Exchanges for newbiee

[tenakha]

What i don't understand is, what do you pay attention to when you invest money to the token/coin? to exchange? Nowadays there are so many potential token that none of them is in the first 10 exchange. In my opinion, it is sufficient that the exchanges aren't scam and have a small fee.

[karungbitcoin]

Before Binance launched, i used Bittrex and Poloniex because they become the biggest exchange in 2015. Since that untill now i still use it because they has regulation in USA. Since they started operated there are no issue of hack so they is one of the good exchange. Also i use Binance because this exchange have very high trading volume and listed alot of potential coin.

[Gloria99734]

Binance is by far the best when considering everything, the fees are cheap and the interface is clean and efficient. The only thing that slightly lets binance down from a traders point of view is their selectivity in listing coins, I understand their reasoning but it is a shame not to be able to trade some of the lesser-known lowercap coins on binance. Instead we're left with low volume, shady exchanges that charge far too much in fees.

It can show the quality of their listing coins, i dont really mind

[Gloria99734]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you


1. Binance (Strongly recommended)
2. Bitfinex (Stable, not many coins available)
3. Bithumb (ps:security issue happened, consider well)
4. Upbit (Korea exchanges)

Welcome to other suggestion

*******Additional information************
Recommended by FlamingFingers : Bittrex - 2 years exp. and No issue ever

The four platforms are good enough but I will add another one which is OKEx launched by large Chinese bitcoin company, this application maintains strong liquidity in the CNY / BTC pair and manages two main entities including a focus on China's main domestic and international markets, due to exchange it is one of the largest crypto exchanges in the world

Really? I can't found CNY / BTC pair there. Which one?
It banned many countries, so I can't use it.

[Gloria99734]

To start trading, first we need to choose a platform, here are the platforms I use.
Share with all of you

Bicoin: Bithumb, Bitfinex

Tether(trading TUSD or USDT): Binance, Bitmart

ETH: all of above

Welcome to other suggestion

Why do we need to split up so many trading floors? Why do not we trade at a single exchange? I am wondering about this issue and hope you will help me. I'm a beginner to trading. thank you.

For stable and profitable work in the future, any trader will need several exchanges for several reasons:
1. There are different trading pairs on different exchanges.
2. On some exchanges there is direct input of fiat (sometimes it is very important and convenient).
3. Sometimes all exchanges conduct technical work. Using several exchanges, you will be able to trade even if some of them will conduct technical work.
4. Sometimes exchanges are exposed to hacker attacks. Therefore, you need several exchanges, this will give you the opportunity to always have access to at least part of your deposit.
5. Different exchange rates. Sometimes the exchange rate of a particular currency is very different from the exchange rate on another exchange, so you can profitably sell and buy the currency back.

Very useful! Thank you.
I have add it on #1

[Gloria99734]

I have complaints about bitfinex, they ask for many things to verify account, it becomes tiring. bittrex is also a good exchange, but last year it had a lot of problems and turned out to be a dangerous exchange. we have to show the worst exchanges and in my opinion yobit should is the worst exchange in the world, they are a shame for crypto

I prefer to trade at Bnance and Bittrex. Besides having a high trading volume, the security of both exchanges is also good as well as excellent user service.

I also only use these two exchanges, I can not use kraken and I gave up poliniex

Why? What you from?

[Gloria99734]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you


1. Binance (Strongly recommended)
2. Bitfinex (Stable, not many coins available)
3. Bithumb (ps:security issue happened, consider well)
4. Upbit (Korea exchanges)

Welcome to other suggestion

*******Additional information************
Recommended by FlamingFingers : Bittrex - 2 years exp. and No issue ever

Binance is the most trusted and popular excahnge at this time number one people choice because they gives better services. I also recommend the newly and realable platform exchange with full security feature nexybit trading  platform.

I never heard it before, why you recommend it.

[Gloria99734]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you


1. Binance (Strongly recommended)
2. Bitfinex (Stable, not many coins available)
3. Bithumb (ps:security issue happened, consider well)
4. Upbit (Korea exchanges)

Welcome to other suggestion

*******Additional information************
Recommended by FlamingFingers : Bittrex - 2 years exp. and No issue ever

Gotta say, almost everyone has Binance in their list and why it wouldn't be after seeing its progress around the world. Bianance CEO is kind enough to spread his business around the globe and already talking with the banks to have the fiat to crypto and crypto to fiat option opened up for the world. I guess there couldn't be better option than this and no exchanger is even thinking about it that way. Binance also came later in the time when others were doing well but still it easily caught the market secured its place in top 3. So yeah surely it is the most recommended exchanger and one can always feel free to start with it before even going anywhere.

Yeah, I look forward to they will use their own blockchain soon!

[Gloria99734]

I used poloniex ( not recommend because it's doesn't update for a long time. so laggy. everything need KYC). now I'm moving on to Binance. don't need to do KYC things and you still can withdraw 2 btc/day.

Binance need KYC when you withdraw
Poloniex is more prudent and too trouble if we trade low vol. , Large vol. trader may love it

[Gloria99734]

I would also like to add some stand-alone analysis platforms which are way more sophisticated, if you are interested in a more serious crypto analysis. I would suggest tradingview.com which definitely has more technical tools than “standard” ones on the Binance. You can also try tensorcharts.com which in my opinion is one of the best if you know how to perform volume analysis.

Are they more complex? Thank you for sharing, I will take a look

[Gloria99734]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you


1. Binance (Strongly recommended)
2. Bitfinex (Stable, not many coins available)
3. Bithumb (ps:security issue happened, consider well)
4. Upbit (Korea exchanges)

Welcome to other suggestion

*******Additional information************
Recommended by FlamingFingers : Bittrex - 2 years exp. and No issue ever

I really do not know much about the last two you mentioned, but for bitfinex and binance, these are good exchanges that have been able to do well over time. I strongly recommend binance as well based on liquidity, trading fees, and then the support which is pretty good for me.

The UI too is okay but since I am always using APIs to trade on tabtrader, I usually do not pay so much attention on the exchange UI. For bittrex, based on loyalty, and reputation, this is one exchange I will never stop using, and even though sometimes, the fees in binance has spoiled me, I still feel confident with the bittrex exchange.

Last two EX are from Korea, I found they offer a more attractive selling price!
I have add info on #1

[Gloria99734]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you


1. Binance (Strongly recommended)
2. Bitfinex (Stable, not many coins available)
3. Bithumb (ps:security issue happened, consider well)
4. Upbit (Korea exchanges)

Welcome to other suggestion

*******Additional information************
Recommended by FlamingFingers : Bittrex - 2 years exp. and No issue ever

I would recommend KuCoin. Kucoin doesn't have much difference than Binance, just coin availability option. It is a relatively small exchange with good potential. If you have some spare money and looking to invest in some business-backed coin, I suggest you to buy KCS (Kucoin share).

One more thing, just in case there's anyone looking for a leveraged trading platform, I highly recommend Bitmex. They are one of the exchanges with the largest volume so no need to worry for liquidity. Another reason to choose Bitmex is that they don't ask for ID verification. You can simply make account, deposit, and start margin trading. Most importantly, they are very trusted.

I don’t know Kucoin is that popular! Is it trustworthy?
Bitmex almost 100% vol on BTC, not that attractive for me haha

[Gloria99734]

binance is very good i trade there every day. with a large volume it is very good to pump prices quickly for a 1-2% profit a day that is very possible in binance. i love binance 

Hahahaha I love Binance too!
Really ideal platform so far, looking on their own block chain

[Gloria99734]

To be honest, I would stay as far away from Bithumb as possible. Too many security breaches (at least two successful hacks) and more than USD$31 Million stolen by hackers (that's the disclosed number; who knows how much hackers had stolen in 2017). That's not an ideal platform to put your money on to, in my humble opinion.

I would add Bittrex as well—trading for two years on that exchange, and never had an issue, it is one of the top.

You are right. I Don't know why everyone suggests and supports Bithumb exchange. Such a bad crypto exchanger it is. This exchange already hacked two times this year, and hackers took 31 Million USD, We can see another hack in this year, who knows. Bittrex is far better than this overrated exchange! I will never trade in this exchange because I don't believe, even they can steal user's money and then announce hacker hacked everything! We really don't know about it.

Bithumb was a great platform... I use it for a period as loyalty or something
I will take it out of the list, thanks for sharing!

[Gloria99734]

Your List will be perfect for the newbie if you remove Bithumb exchange name! It is not a good exchange mate, Users are not safe there then why you will go there where you have plenty of options to exchange your coins? Though This is your personal list, still Bithumb name you may remove and you should add bittrex name or Bibox Exchange name in the list.

Bittrex has on now
I haven’t used Bibox before, how it’s attractive?

[Gloria99734]

Where is poloniex?

That is one also of the longest running trading platform. Although I do not like how they are managing their customer service, they are still trustworthy when it comes to payment fees and also speed.

Mostly before, trading platforms have 100k sats withdrawal fees and poloniex is just the with a 50k sats fees.

I think poloniex is a bit complex for newbie, it more welcomed by PIs as it highly secure.
Many retailers complain on its KYC is too annoying. What do you think?

[pinkliar]

Where is poloniex?

That is one also of the longest running trading platform. Although I do not like how they are managing their customer service, they are still trustworthy when it comes to payment fees and also speed.

Mostly before, trading platforms have 100k sats withdrawal fees and poloniex is just the with a 50k sats fees.

I think poloniex is a bit complex for newbie, it more welcomed by PIs as it highly secure.
Many retailers complain on its KYC is too annoying. What do you think?

There's a lot of popular and trusted exchange site and also there are good exchanges for beginners like bittrex binance poloniex. About the KYC in exchange it's a normal, try to understand on what will you need to do.

[AztecGoldHero]

If you are new to crypto trading, and looking for a platform to trade, here are some platforms I use.
Share with all of you

1. Binance : Most recommended. stable, safe, liquidity, commission fee cheap
2. Bitfinex : Stable, not many coins available

Here is some Korea Exchanges, selling price relatively higher, recommend to sell them here.
3. Bithumb (ps:security issue happened, consider well)
4. Upbit : Not much volume as Bithumb but no problems so far

*******Additional information************
5. Bittrex - Recommended by FlamingFingers : 2 years exp. and No issue ever


Welcome to other suggestion

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[nelson4lov]

Just saw OP's message. And I'd just like to add that Binance is the best exchange for me any day, anytime. It has every feature of a top rated exchange. Strong security, plenty of liquidity and wide range of Cryptocurrencies to choose from and trade. Bittrex was my favorite in 2016/2017 but these changed after they adjusted their  KYC and locked out some accounts. Currently, They don't have much volume which is a major downside. Poloniex too, has past its glory days. For decentralized exchanges, I go with Idex exchange.

[perla]

Just saw OP's message. And I'd just like to add that Binance is the best exchange for me any day, anytime. It has every feature of a top rated exchange. Strong security, plenty of liquidity and wide range of Cryptocurrencies to choose from and trade. Bittrex was my favorite in 2016/2017 but these changed after they adjusted their  KYC and locked out some accounts. Currently, They don't have much volume which is a major downside. Poloniex too, has past its glory days. For decentralized exchanges, I go with Idex exchange.

If only markets such as Poloniex and Bittrex enter new tokens in their markets, maybe that two exchangers will still be popular today. People look for new tokens to trade and now some new market be favourite because of that.